Papua New Guinea resumes talks with Exxon on gas field agreement

MELBOURNE: The Papua New Guinea government and U.S. oil major Exxon Mobil Corp plan to resume talks on the P'nyang natural gas project, nearly two years after their negotiations halted, Oil Search Ltd, a partner in the project, said on Monday.

In November 2019, talks tied to a $13 billion expansion of the country's liquefied natural gas (LNG) exports fell apart with the government saying Exxon was unwilling to negotiate on the country's terms.

The government has been pressing for better returns for the impoverished country than it obtained in the original PNG LNG agreement in 2008.